20FStatus of statutory SOCs

20F Status of statutory SOCs

20F Status of statutory SOCs

A statutory SOC or any of its subsidiaries—

(a) is not and does not represent the State except by express agreement with the voting shareholders of the SOC, and

(b) is not exempt from any rate, tax, duty or other impost imposed by or under any law of the State merely because it is a SOC, and

(c) cannot render the State liable for any debts, liabilities or obligations of the SOC or any of its subsidiaries,

unless this or any other Act otherwise expressly provides.

s 20F: Ins 1995 No 32, Sch 1 [13].